UK Bond Yields Do Monster Spike, Pound Plunges as Bond Vigilantes Rise from Graves, Go after Government’s Fiscal Recklessness

Bank of England: won’t “hesitate” to hike rates “as much as needed.” Bond market fears much higher inflation and interest rates, for much longer. By Wolf Richter for WOLF STREET. It was thought that central banks, with their QE and interest-rate repression, had killed off any remaining bond vigilantes that used to hound governments that … Read more

Fed official warns UK tax cuts increase risk of global recession

The UK government’s new fiscal plan has increased economic uncertainty and raised the odds of a global recession, a top official at the US central bank warned after sterling hit a record low. Speaking while the pound whipsawed as traders digested UK chancellor Kwasi Kwarteng’s £45bn tax-cutting package, Raphael Bostic, president of the Atlanta branch … Read more

Leading economies sliding into recession as Ukraine war cuts growth, OECD finds | Business

The world’s leading economies are sliding into recession as the global energy and inflation crises sparked by Russia’s invasion of Ukraine cut growth by more than previously forecast, according to the Organization for Economic Co-operation and Development (OECD). A dependency on expensive gas for heavy industry and home heating will plunge Germany, Italy and the … Read more

Video captures strange moans, noises on American Airlines flights

It’s not Halloween yet, but American Airlines passengers have reported ghoulish moans and ghostly breathing over the intercom systems on several flights in recent months. Film producer Emerson Collins captured the strange cacophony on his Sept. 6 flight from Los Angeles to Dallas. Tea video has racked up millions of views on Twitter and TikTok. … Read more

Leading economies sliding into recession as Ukraine war cuts growth, finds OECD | Business

The world’s leading economies are sliding into recession as the global energy and inflation crises sparked by Russia’s invasion of Ukraine cuts growth by more than previously forecast, according to the Organization for Economic Co-operation and Development (OECD). A heavy dependency on expensive gas for heavy industry and home heating will plunge Germany, Italy and … Read more

Secret ‘overemployment’ grows as a remote work trend, but risks are involved

Check out what’s clicking on FoxBusiness.com Some remote workers are juggling two full-time jobs as the “overemployed” movement gains steam online, thanks to social media platforms like Reddit. The r/Overemployed subreddit, which was begun in May 2021 and is the public-facing forum of Overemployed.com, has grown to 92,800 members. At the start of 2022, the … Read more

Bank of England monitoring markets ‘very closely’ after pound falls

Analysts expect the Bank of England may need to raise interest rates more aggressively following market turbulence on Monday morning. Sopa Pictures | light rocket | Getty Images LONDON — The Bank of England on Monday said it is monitoring financial market developments “very closely” after a dramatic morning of turmoil saw the British pound … Read more

Biden administration seeks new rules on airline fee disclosures

Travelers at LaGuardia Airport (LGA) in the Queens borough of New York, US, on Friday, July 2, 2022. As travel is ramping up for the July 4th holiday, staffing shortages are causing problems for some of the nations largest airlines. Biting Angus | Bloomberg | Getty Images President Joe Biden plans to announce new rules … Read more